Gosling's Grouse: mind the advice gap

GOSLING'S GROUSE

clock

If there is an inequality between the wages paid to a Premiership footballer and a nurse (and clearly there is), there appears to be another odd inequality within the financial services sector.

A survey of salaries and benefits within the industry by BWD Financial Services found the people who provide the advice – advisers and paraplanners – are towards the bottom of the chain. According to the survey, last year the average employed adviser earned nearly £63,000, while the average self-employed earned £60,500. In contrast, employee benefit consultants earned an average of £87,000, while for a paraplanner the average salary was £28,500. However, paraplanners are more optimistic about salary rises this year than other occupations in the survey. Of course, because all these num...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Why human connection remains central in a digitally enabled advice sector

Why human connection remains central in a digitally enabled advice sector

'It is clear that the sector is moving through a significant period of transformation'

Tim Riseborough
clock 17 December 2025 • 3 min read
Why advisers shouldn't rush into private markets

Why advisers shouldn't rush into private markets

'There's only so long the hamster wheel can keep turning'

Justin Cash
clock 15 December 2025 • 4 min read
Adviser workload set to rocket ahead of IHT on pensions changes

Adviser workload set to rocket ahead of IHT on pensions changes

Large volumes of clients will need reviews of financial plans

Isabel Baxter
clock 15 December 2025 • 3 min read